Sean Payton, Saints reportedly agree in principle to contract extension

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The New Orleans Saints and head coach Sean Payton have "agreed in principle" on a contract extension, according to Fox Sports' Jay Glazer.

Glazer reported on the NFL Network that the extension is for five more years.

Mike Freeman of reports a source saying Payton's extension will be in the neighborhood of New England Patriots coach Bill Belichick's annual $7.5 million deal.

Payton has been linked to other teams including the Dallas Cowboys after the NFL voided his 2011 contract extension while serving a season-long suspension connected to the bounty scandal. He could become a free agent if the Saints don't finalize a new contract before he is reinstated.